By: NATHAN STUEDLE
GRAIN MARKET SUMMARY
Grain futures finished mixed Monday after giving back much of the stronger overnight trade.
Corn settled around unchanged to ½ cent lower. December corn had been several cents higher overnight, but the rally faded as traders continued to deal with the bearish fallout from last week’s USDA Grain Stocks report and a larger-than-expected old-crop corn supply.
Soybeans finished 2½ to 3¼ cents higher. Beans were up double digits overnight but lost most of those gains during the daytime session. Chinese buying and recent export demand provided some support, but traders remained cautious with harvest progressing and South American competition still in the background.
Wheat held onto the strongest gains of the grain complex, closing roughly 6½ to 9½ cents higher. Renewed concern about Black Sea trade and geopolitical risk helped support prices, although futures finished well off their overnight highs.
Overall, Monday’s grain trade was firmer in soybeans and wheat, while corn struggled to hold early strength.
LIVESTOCK MARKET SUMMARY
Livestock futures finished mostly lower Monday, with cattle under pressure while lean hogs moved higher.
Live cattle closed about $1.10 to $1.57 lower. The market remained under pressure following Friday’s weakness, with traders continuing to watch cash cattle values, boxed beef demand and broader economic conditions.
Feeder cattle also finished lower, down roughly $1.02 to $2.75. The decline came despite only modest strength in the grain markets, with feeders continuing to see corrective selling following recent gains.
Lean hog futures moved the opposite direction. December hogs traded higher during the session as the market continued trying to recover from recent contract lows. Early trade had December futures up about 58 cents, while the broader hog market was supported by short covering after a prolonged technical decline.